Banklady Credit Doctor

Compare Online Banks and Internet Checking

With an online bank you have the opportunity to save on many fees you get charged and even earn interest compared to bank down the street. Most online banks even reimburse you for your ATM usage fees. You also get unlimited online account access and better hours for telephone banking. Here is our chart to help compare some banks:

Learn why interest checking may not work for your situation.

Find banks with ATM rebates.

Top 5 High Interest Savings Accounts

Worried about your E*Trade bank account going bankrupt or your bankrupt Netbank account? Switch to WaMu and get a high interest rate.

Debit Cards that give you cash back

Online Banker Incentive ATM/Debit Charges Free Online Bill Pay Free Initial Set of Checks 24-HR Phone Support Initial Minimum Balance Summary
US Bank Checking Enter to win a $500 Gift Card to Target! Checking that Pays! Yes Yes Yes- 24hr Phone 100 Earn your choice of rewards for using your U.S. Bank Check Card with Checking That Pays! Checking That Pays has expanded and now offers you the choice of cash, points for merchandise and gift certificates, miles or sweepstakes entries for your U.S. Bank Check Card purchases
American Express Checking  Bonus ATM Fees Reimbursed Yes Yes Yes-24hr PHone 100 NO longer accepting banking applications
 ING DirectMoney Market variable 2.00% Annual Percentage Yield on savings every day No need to change banks – Your Orange Savings will be automatically linked to your current checking account N/A N/A 24-hour access to your account No Minimum Balance ING DIRECTmakes Saving money simple! Open your account online today and start earning 2.00% variable APY. No Fees and No Minimums!
NetBankChecking(Old promotions here for comparing purposes only – Netbank is now ING DIRECT)
  • OLD PROMOTIONS:$75 for Money Market and a checking accounts
  • $75 for >$500 direct deposit and a new checking account
  • $50 for a checking and MM accounts for NestEggz members
  • $50 for a checking account or MM account via Money 2003 link
  • $50 for NetBank checking account with $1500 init. deposit
  • Please check Netbank.com for more details and updates to these promotions
 Some free ATMS to make deposits, withdrawals but VERY limited public ones with no charge! Yes Yes and free deposit slips Yes. Excellent Customer Service and BankMail is easy to use from NetBank $100
  • up-to 7000 Delta Sky Miles for opening Netbank accounts, direct deposit and bill payments
  • up-to 7000 United Mileage Plus Miles for opening Netbank accounts, direct deposit and bill payments

NEW >> Virtual Bank, High Interest Money Market and check outEverbank

Guaranty Bank – Less fees and some good promos for joining this Texas based bank.

Want a credit card that pays back 5% more than an average money market account in rebates – join the Chase Manhattan Bank Credit Card that rewards in our Credit Cards Section.

Our pick is the US BANK, ING Direct, or American Express Checking or High Interst Savings Account. Make sure if you apply for an American Express Bank account that you have a clean credit record, they are very particular like Citibank and Chase by choosing people with little marks on their reports. All banks listed above are FDIC insured and offer free direct deposit and customer service.
 

Internet Banking News and Statistics

The Internet has revolutionized the way people manage their money, as indicated by a reported 164 percent increase in Online Banking since 2000. The Pew Internet and American Life Project found that 32 percent of Internet users (roughly 37 million Americans) have done their banking online in 2002 , which is up from 17 percent (roughly 14 million Internet users) in 2000. Moreover, 10 percent currently are e-banking on a daily basis.

While e-banking may not be the most popular online activity gathering hobby information, for example, weighs in at 77 percent, e-shopping is done by 62 percent, and making or buying travel arrangements are at 50 percent — online banking has the highest growth rate, largely due to its wide reach.

Pew’s research indicates that there is little variation in e-banking activity between men and women (33 percent versus 30 percent), age groups (33 percent of the 18-29 group; 36 percent of those aged 30-49; and 27 percent of those aged 50-64), and ethnicities (33 percent of Hispanics, 32 percent of Caucasians, and 30 percent of African-Americans bank online).

Education, income levels, and online experience, all are factors in internet banking customers and bill pay online. Some 41 percent of online bankers are college graduates; by contrast, only 23 percent of those with only high-school educations are. Among those in households with incomes of $75,000 or more, 44 percent bank online; only 21 percent of households earning less than $30,000 are. Four in 10 (39 percent) of those who’ve been online four years or more, 20 percent of those with two to three years of experience, and just 6 percent of those with less than a year online bank via the Internet.

Source: CyberAtlas

Opening a checking account for the first time?  Here are some questions and answers.

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